PTG Energy Public Company Limited Reports Sales Results for the First Quarter 2020; Provides Guidance of Sales Results for Second Quarter 2020; Announces to Reduce the Expansion of Petrol Station
May 13, 2020 at 02:22 pm
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PTG Energy Public Company Limited reported sales results for the first quarter 2020. Total Fuel Sales Volume was 1,217 million litres against 1,109 million litres a year ago.
After the outbreak of the COVID- 19 virus has eased, The oil consumption of the country will gradually return to grow. PTG expects that in the second half of 2020, the Company's oil sales volume will be able to grow at 15% - 17%, and PTG will have full-year volume growth at 10% - 12% from the branch expansion, the widely known brand awareness, and continuous service improvement.
Maintain cash flow to prepare for the uncertainty situation of the COVID-19 virus outbreak and financial markets, by managing expenses appropriately, considering the reduction of investment from THB 4,500 million- THB 5,000 million to THB 2,000 million - THB 2,500 million in 2020. In the regard, PTG will reduce the expansion of petrol station from 150 - 200 stations to 50 - 100 stations and reduce the expansion of non-oil business branches from 200 branches to 100 branches.
PTG Energy Public Company Limited is a Thailand-based distributor of petroleum products. The Company is engaged in the trading of petroleum products, gas products, supplies and equipment for oil service stations, consumable products, and transportation. The Company has three reporting segments which comprise sales of petroleum products, gas products, and supplies and equipment for oil service stations; sales of consumable products; and transportation. Its products and services include oil, LPG, oil lubricant, food, beverages and max mart, and other services. The Companyâs subsidiaries include PTG Green Energy Company Limited; Punthai Coffee Company Limited; Max Card Co., Ltd.; Olympus Oil Co., Ltd.; GFA Corporation (Thailand) Limited; Max Ventures Co., Ltd; Petroleum Thai Corporation Co., Ltd.; Pyramid Oil Co., Ltd; Alpine Oil Co., Ltd; Empire Oil Co., Ltd; Everest Oil Co., Ltd; Andes Oil Co., Ltd; Empire Service Solution Co., Ltd.; and Innoligent Automation Co., Ltd.
PTG Energy Public Company Limited Reports Sales Results for the First Quarter 2020; Provides Guidance of Sales Results for Second Quarter 2020; Announces to Reduce the Expansion of Petrol Station